GUELPH, Ontario, Oct. 18, 2018 /PRNewswire/ -- Canadian Solar Inc.
(the "Company" or "Canadian Solar") (NASDAQ: CSIQ), one of the
world's largest solar power companies and Biosar Australia, a
leading solar EPC provider, today announced they will jointly
provide Engineering, Procurement and Construction ("EPC") services
to a 256 MWp solar power project in Australia for Total Eren, a leading French
Independent Power Producer (IPP).
The project, Kiamal Solar Farm, is located in
Northwest Victoria and has secured several Power Purchase
Agreements (PPAs) with energy retailers such as Flow Power and
Alinta Energy and a 20-year PPA with Mars Australia.
Construction is planned to start in October 2018 and it is expected to reach
commercial operation by mid-2019. Over 720,000 of Canadian
Solar's 1500V high efficiency KuMax modules (CS3U-P) will
be installed on single-axis solar tracking systems. When
completed, it is expected to be the single largest solar power
plant in Victoria, Australia, and
will produce enough electricity to meet the needs of more than
133,500 Victorian homes and displacing more than 610,000 tonnes of
carbon dioxide emissions annually.
Dr. Shawn Qu, Chairman and Chief
Executive Officer of Canadian Solar, said, "We are delighted to be
selected by a very ambitious and professional IPP such as Total
Eren to provide EPC services together with Biosar and to supply our
1500V crystalline module to this large-scale solar power project
which was very diligently developed. This partnership further
expands our presence and solidifies our competitive position in
Australia. We are committed to
providing customers in Australia
and around the world with access to clean, affordable and reliable
solar energy."
"Canadian Solar's wide experience and technological leadership
in the solar energy market are an ideal combination for new solar
projects in a very fast growing market such as Australia" said Aris Polychronopoulos,
General Manager of Biosar. "Canadian Solar is the perfect partner
and we are very glad to join forces with them in order to provide a
strategic client such as Total Eren with EPC services in their
first mega scale project in the country".
"I am delighted to launch the construction of our largest solar
project worldwide and Victoria's
largest solar PV plant, which was only possible thanks to the
excellent work performed by our team and our partners, in
particular Mars Australia, Flow Power and Alinta Energy. We
selected to work with Canadian Solar and Biosar as we believe their
expertise and proven track record of deployment of large-scale
solar power projects worldwide will bring success to our mega
project in Australia," commented David
Corchia, Chief Executive Officer of Total Eren. "Canadian
Solar and Biosar have been very supportive and we look forward to
working with them for future opportunities."
About Total Eren
Founded in 2012 by Pâris Mouratoglou and David Corchia, Total Eren has built up a
substantial and diversified portfolio of wind, solar and
hydroelectric assets representing an installed gross capacity of
more than 1,300 MW in operation or under construction worldwide.
Through partnerships with local developers, Total Eren is currently
developing numerous renewable energy projects in countries and
regions where renewable energy represents an economically viable
response to growing energy demand, such as in Asia-Pacific, Africa and Latin
America. Its objective is to achieve a global net installed
capacity of more than 3 GW by 2022. On 1
December 2017, Total S.A, the major energy company, has
acquired an indirect 23% interest in Total Eren. To learn more:
www.total-eren.com
The Kiamal Solar Farm is Total Eren's first investment into
Australia with a nameplate
capacity of 256 MWp / 200 MW. Located near Ouyen township in
north-west Victoria, the Project
is connected into the 220 kV transmission network through a new
terminal station and substation built by TransGrid. The Project is
expected to employ over 200 full-time equivalent jobs during
construction and 7 jobs during the operational phase.
About Biosar
Biosar, a global construction firm, offers integrated solutions
for design, supply, construction and operation and maintenance of
medium and large-scale PV systems. Biosar is a member of the
largest construction group in Greece, AKTOR, an international highly
diversified company focused on Infrastructure, Building,
Industrial, MEP, EPC and Concession Contracts, Facility and Project
Management. Biosar operates in 13 countries worldwide, having as of
today a total installed capacity of 1.6 Gigawatts and an order book
of another Gigawatt, thus making the company one of the most
successful international solar energy sector firms. For additional
information, follow Biosar on LinkedIn or visit www.biosar.gr.
About Canadian Solar
Founded in 2001 in Canada,
Canadian Solar is one of the world's largest and foremost solar
power companies. As a leading manufacturer of solar photovoltaic
modules and provider of solar energy solutions, Canadian Solar has
a geographically diversified pipeline of utility-scale power
projects in various stages of development. In the past 17 years,
Canadian Solar has successfully delivered over 29 GW of premium
quality modules to over 100 countries around the world.
Furthermore, Canadian Solar is one of the most bankable companies
in the solar industry, having been publicly listed on NASDAQ since
2006. For additional information about the Company, follow Canadian
Solar on LinkedIn or visit www.canadiansolar.com.
Canadian Solar Safe Harbor/Forward-Looking Statements
Certain statements in this press release are forward-looking
statements that involve a number of risks and uncertainties that
could cause actual results to differ materially. These statements
are made under the "Safe Harbor" provisions of the U.S. Private
Securities Litigation Reform Act of 1995. In some cases, you can
identify forward-looking statements by such terms as "believes,"
"expects," "anticipates," "intends," "estimates," the negative of
these terms, or other comparable terminology. Factors that could
cause actual results to differ include general business and
economic conditions and the state of the solar industry;
governmental support for the deployment of solar power; future
available supplies of high-purity silicon; demand for end-use
products by consumers and inventory levels of such products in the
supply chain; changes in demand from significant customers; changes
in demand from major markets such as Japan, the
U.S., India and China; changes in customer order
patterns; changes in product mix; capacity utilization; level of
competition; pricing pressure and declines in average selling
prices; delays in new product introduction; delays in utility-scale
project approval process; delays in utility-scale project
construction; delays in the completion of project sales; continued
success in technological innovations and delivery of products with
the features customers demand; shortage in supply of materials or
capacity requirements; availability of financing; exchange rate
fluctuations; litigation and other risks as described in the
Company's SEC filings, including its annual report on
Form 20-F filed on April 26, 2018. Although the Company
believes that the expectations reflected in the forward looking
statements are reasonable, it cannot guarantee future results,
level of activity, performance, or achievements. Investors should
not place undue reliance on these forward-looking statements. All
information provided in this press release is as of today's date,
unless otherwise stated, and Canadian Solar undertakes no
duty to update such information, except as required under
applicable law.
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SOURCE Canadian Solar Inc.